Apache (NYSE:APA) had its target price increased by research analysts at Morgan Stanley from $46.00 to $48.00 in a research report issued on Wednesday. The firm currently has an “equal weight” rating on the energy company’s stock. Morgan Stanley’s target price points to a potential downside of 0.17% from the stock’s previous close.
A number of other research firms also recently weighed in on APA. Scotiabank set a $49.00 target price on Apache and gave the stock a “hold” rating in a research report on Monday, November 13th. Bank of America lifted their target price on Apache from $41.00 to $42.00 and gave the stock an “underperform” rating in a research report on Monday, November 6th. BMO Capital Markets set a $45.00 target price on Apache and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Royal Bank of Canada set a $51.00 target price on Apache and gave the stock a “hold” rating in a research report on Wednesday, December 20th. Finally, Stifel Nicolaus set a $42.00 target price on Apache and gave the stock a “hold” rating in a research report on Thursday, October 5th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $46.06.
Apache (NYSE:APA) traded up $0.63 during trading on Wednesday, hitting $48.08. The stock had a trading volume of 3,082,841 shares, compared to its average volume of 3,730,000. The company has a quick ratio of 1.37, a current ratio of 1.53 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $18,320.00, a price-to-earnings ratio of 27.79, a PEG ratio of 6.78 and a beta of 1.05. Apache has a twelve month low of $38.14 and a twelve month high of $62.49.
Apache (NYSE:APA) last released its earnings results on Thursday, November 2nd. The energy company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. Apache had a return on equity of 3.63% and a net margin of 8.21%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the business earned ($0.03) earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. analysts predict that Apache will post 0.09 earnings per share for the current year.
In related news, Director John E. Lowe acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were bought at an average cost of $40.02 per share, with a total value of $120,060.00. Following the completion of the acquisition, the director now owns 15,000 shares of the company’s stock, valued at $600,300. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider P Anthony Lannie sold 19,514 shares of Apache stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $44.04, for a total value of $859,396.56. Following the sale, the insider now directly owns 37,469 shares in the company, valued at $1,650,134.76. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Proffitt & Goodson Inc. acquired a new stake in Apache during the fourth quarter valued at approximately $621,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in shares of Apache by 304.1% in the fourth quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 24,243 shares of the energy company’s stock valued at $1,045,000 after acquiring an additional 18,243 shares during the last quarter. Hoertkorn Richard Charles raised its stake in shares of Apache by 32.1% in the fourth quarter. Hoertkorn Richard Charles now owns 79,940 shares of the energy company’s stock valued at $3,375,000 after acquiring an additional 19,430 shares during the last quarter. Lourd Capital LLC raised its stake in shares of Apache by 57.5% in the fourth quarter. Lourd Capital LLC now owns 60,998 shares of the energy company’s stock valued at $2,575,000 after acquiring an additional 22,275 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Apache in the fourth quarter valued at approximately $3,136,000. 94.70% of the stock is currently owned by institutional investors.
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Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.